GSA Capital Partners LLP Sells 293,385 Shares of Infinera Co. (NASDAQ:INFN)

GSA Capital Partners LLP trimmed its stake in Infinera Co. (NASDAQ:INFN) by 63.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 166,322 shares of the communications equipment provider’s stock after selling 293,385 shares during the period. GSA Capital Partners LLP owned approximately 0.07% of Infinera worth $1,123,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of INFN. SageView Advisory Group LLC purchased a new position in Infinera during the first quarter worth $39,000. EverSource Wealth Advisors LLC bought a new stake in shares of Infinera in the 2nd quarter worth about $104,000. Headlands Technologies LLC purchased a new position in shares of Infinera during the 2nd quarter worth about $112,000. Algert Global LLC bought a new position in Infinera during the 2nd quarter valued at about $128,000. Finally, Palumbo Wealth Management LLC raised its position in Infinera by 8.4% in the 3rd quarter. Palumbo Wealth Management LLC now owns 23,954 shares of the communications equipment provider’s stock worth $162,000 after purchasing an additional 1,850 shares during the period. Hedge funds and other institutional investors own 97.54% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. JPMorgan Chase & Co. upped their target price on Infinera from $5.00 to $6.00 and gave the company an “underweight” rating in a research note on Tuesday, August 6th. B. Riley downgraded Infinera from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Rosenblatt Securities reiterated a “neutral” rating and set a $6.65 target price on shares of Infinera in a research report on Wednesday, November 6th. StockNews.com raised shares of Infinera from a “sell” rating to a “hold” rating in a research note on Thursday, November 7th. Finally, Berenberg Bank raised shares of Infinera to a “hold” rating in a research note on Monday, August 5th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $7.09.

Infinera Trading Up 0.2 %

NASDAQ INFN opened at $6.64 on Friday. Infinera Co. has a one year low of $3.79 and a one year high of $6.92. The company has a debt-to-equity ratio of 4.98, a quick ratio of 0.97 and a current ratio of 1.58. The company has a market capitalization of $1.57 billion, a price-to-earnings ratio of -13.83 and a beta of 1.71. The company’s 50-day simple moving average is $6.68 and its two-hundred day simple moving average is $6.03.

Infinera (NASDAQ:INFN) last issued its quarterly earnings data on Tuesday, November 5th. The communications equipment provider reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.07). The business had revenue of $354.40 million for the quarter, compared to analysts’ expectations of $401.96 million. Infinera had a negative net margin of 7.62% and a negative return on equity of 45.12%. Equities analysts forecast that Infinera Co. will post -0.22 EPS for the current fiscal year.

Infinera Company Profile

Infinera Corporation provides optical transport networking equipment, software, and services worldwide. The company's product portfolio includes Infinera Groove series for modular and sled-based platforms to support a various transport network applications; Infinera 7300 series, an SDN-ready coherent optical transport system; Infinera FlexILS open optical line system that connects various Infinera and third-party terminal equipment platforms over long-distance fiber optic cable providing switching, multiplexing, amplification, and management channels; and Infinera 7090 and 7100 series for transport platforms.